SOURCE: Millrock Resources Inc.

Millrock Resources

April 07, 2016 08:30 ET

Millrock Announces Purchase of Chisna Copper-Gold Project, Alaska

VANCOUVER, BC--(Marketwired - April 07, 2016) -  Millrock Resources Inc. (TSX VENTURE: MRO) ("Millrock") announces that the company has purchased mining claims comprising the Chisna project in Alaska. A 100% interest in the project was purchased by Millrock from Corvus Gold Inc. ("Corvus" or the "Company") -- (TSX: KOR) (OTCQX: CORVF) for US$25,000. Corvus will retain a 1% Net Smelter Returns royalty on the claims. Along with the mineral rights, Millrock purchased an exclusive copy of a proprietary exploration database covering the claims and the surrounding district. The data represents an estimated US$11 million worth of exploration work. The claims hold indications of copper-gold porphyry deposits. There are numerous untested targets represented within the proprietary database. Other possible target types in the district include gold-only vein and intrusion-hosted deposits, as well as nickel-platinum group element deposits.

Millrock President & CEO Gregory Beischer stated: "We are pleased to add this project to our portfolio and look forward to utilizing the information that we've purchased. Since Corvus has now focused their efforts on their discovery in Nevada, a great opportunity was created for Millrock in Alaska."

The easternmost portion of the Chisna project is accessed by a series of trails leading from the paved Tok Cutoff highway. The trailhead is four kilometers west of the village of Slana. Fairbanks Alaska lies 420 km by road to the northwest.

The technical information within this document has been reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.

Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock's exploration projects primarily comes from its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and Altius.

ON BEHALF OF THE BOARD

"Gregory Beischer"

Gregory Beischer, President & CEO

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

"NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE."

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Gregory A. Beischer
    (604) 638-3164
    Millrock Resources Inc.
    800 - 789 West Pender Street
    Vancouver, BC V6C 1H2